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The central bank is planning to sell $3.4 billion in toxic mortgage debt today that it inherited four years ago when it bailed out AIG.
The Consumer Financial Protection Bureau (CFPB) will begin publishing credit card complaints today in a searchable database, allowing the public for the first time to scrutinize the way individual banks handle complaints. Industry groups have warned that consumer complaints are subjective, unverified and irrelevant, and said identifying the banks involved serves no public policy, but […]
Jules Kroll, a corporate investigations pioneer whose namesake firm once pursued hidden assets linked to dictators Saddam Hussein and Jean-Claude Duvalier, relishes the idea of chasing down the major bond rating agencies: Moody’s Investors Service, Standard & Poor’s and Fitch Ratings. The industry needs a shake-up, he said. And he’s trying to provide one, founding […]
While still a shadow of its former self, the bond insurance industry is showing signs of revival amid a pickup in issuance of deals backed by riskier assets. However, the credit rating agencies, which misjuded insurers’ ability to guarantee payments in the past, have become much stricter gatekeepers. Of the nine bond insurers active before […]
More details are highlighted on bond insurer MBIA‘s reported losses in the fourth quarter of 2011 from yesterday’s article from ASR sister publication The Bond Buyer. In a report released Wednesday afternoon, MBIA said that it had an adjusted pre-tax loss, a non-GAAP measure, of $252 million in the fourth quarter. That compares to an […]